Concerns expressed by both investors and advisers in relation to issues such as gearing and discounts had been felt to be holding investment trusts back; the industry has attempted in recent years to become more transparent and help improve understanding

This guide seeks to provide a re-introduction to investment trust, explaining why some believe gearing should be embraced, how to deal with discount and premiums, and how much improved data is now widely available on almost all investment trusts.

Additional material for this guide has been supplied by Annabel Brodie-Smith, communications director at the Association of Investment Companies; Stephen Peters, investment trust analyst at Charles Stanley; and Simon Moore, research team leader and senior research analyst at Bestinvest.